Dossier
Veblen goods
Coverage of Veblen goods in the Nexus archive.
- AI, Veblen goods, and M&A fees
AI may reduce costs for many goods but not for Veblen goods like luxury items or premium investment banking services, where demand increases with price. Investment banks like Goldman Sachs and Lazard may maintain high fees for M&A advice despite AI efficiency, as clients prioritize prestige over cost, similar to luxury brands like Hermès.